| Project Detail |
Cabo Verde is working to improve its direct access to climate finance, particularly from the Green Climate Fund. Indeed, the ability to access climate finance is a key factor in the success of the countrys inclusive green growth climate agenda. To this end, the Ministry of Finance, the designated national authority of Cabo Verde, wishes to engage in a preparation process to enable a national entity to be approved as a Direct Access Entity, accredited to the Green Climate Fund. The Ministry of Finance selected LuxDev as its implementing partner to carry out the activities outlined in the readiness proposal and, thus, accelerate the implementation of the Paris Agreement objectives – namely fostering climate resilience and low-emission development – ??by preparing for a transformational impact in a small island developing state. The readiness proposal aims to increase country ownership by issuing the first national accreditation of a Direct Access Entity. Through readiness support, a capacity development program for the staff of the future Direct Access Entity, relevant government institutions, civil society, and private sector organizations can be implemented, and the development of a pipeline of projects eligible for the Green Climate Fund can be supported. This approach will also improve pipeline development focused on adaptation projects in the water and agriculture sectors. The concept notes developed will be aligned with the national program developed by the United Nations Industrial Development Organization and with the work that the Food and Agriculture Organization of the United Nations is carrying out in the country as part of its ongoing readiness proposals. This project is funded by the Green Climate Fund, a financial mechanism of the United Nations. |
